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Account Agreement And Truth-In-Savings Disclosure

Effective 4/1/07


Contents

Privacy Policy

I. Payment of Dividends

II. Terms and Conditions



III. Instructions for IRS Form W-9

IV. Funds Availability Policy



In the following Agreement and Disclosure, the words "I", "me", "mine", "my", "us", and "our" mean each and all of those (whether one or more persons) who are subject to this Agreement and Disclosure as a result of signing a Membership and Account Application ("Account Application") for one or more deposit account(s) with you. The words "you", "your", "yours", and "Credit Union" mean E-CENTRAL CREDIT UNION.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an Account. What this means for me: When I open an Account, you will ask you for my name, address, date of birth, and other information that will allow you to identify me. You may also make a copy of my driver's license or other identifying documents.

PRIVACY POLICY

The Credit Union understands the importance of protecting the privacy of Credit Union members. As such, the Credit Union is committed to maintaining the confidentiality of each member's financial records consistent with state and federal laws. The following sets forth your policies regarding your use and protection of my financial information.

During the course of business you collect nonpublic personal information about me from the following resources:

  • - Information you receive from me on applications or other forms;
  • - Information you obtain when verifying the information you receive from me;
  • - Information about my transactions with you, your affiliates, or others; and
  • - Information you receive from consumer reporting agency.

Generally, you may share all information that you may collect from me as described above with third parties to complete transactions and maintain accounts and related records (such as data processing transactions and records).You may also share such information with select third parties if: 1) I request or authorize it; 2) the information is provided to help complete a transaction initiated by me; 3) the information is provided to a consumer reporting agency in accordance with the Fair Credit Reporting Act; or 4) the disclosure otherwise is lawfully required or permitted.

Also, you may enter into agreements with other businesses to provide support or services to me or for one or more of your products, such as mailing houses that assist you in delivering my statements and other promotional materials. Under certain circumstances you may also enter into joint marketing agreements with other financial service providers, such as mortgage bankers, securities broker-dealers, and insurance companies and agents.

Before entering into relationships with such entities, you require them to safeguard my member information and to comply with all applicable privacy laws.

Furthermore, you may disclose nonpublic personal information about me to other non-affiliated and affiliated third parties not described above as permitted by law and by your policies.

If I decide to terminate my membership or become an inactive member, you will adhere to the privacy policies and practices as described in this Notice.

You restrict access to my personal and account information to those employees who need to know that information to provide products and services to me. Your employees access information about me when needed to administer my accounts, to provide requested services, or in response to a legally valid outside request or order (such as a subpoena). In addition, your employees may also access information to exercise your rights under the law or pursuant to any agreement with me. You maintain physical, electronic and procedural safeguards to comply with federal regulations to guard my nonpublic personal information.

You strive to ensure that your records contain accurate information about me. If I see any inaccuracies in my statements, I will call (626) 799-6000.You will promptly investigate and make any necessary changes to update my records.

Pursuant to the Fair Credit Reporting Act ("FCRA"), it is the Credit Unions practice to share Transactions/Experience information (as defined by the FCRA) with its affiliates and nonaffiliated third parties to the extent permitted by law. You reserve the right to revise your policy as your business needs change or as the law requires. If you revise your policies, you will provide active members with copies of your new policies at that time.

I. PAYMENT OF DIVIDENDS

DIVIDEND RATES: The frequency and conditions upon which dividends are paid on all accounts are in accordance with the Bylaws of this Credit Union, the Federal Credit Union Act, the Truth-in-Savings Act and Regulations. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

For all accounts except Term Share Certificate Accounts, the Dividend Rate and Annual Percentage Yield (APY) may change every month as determined by the Credit Union's Board of Directors.

For specific dividend rate(s) for each type of dividend-earning deposit account, I will refer to the Dividend Rate sheet, which accompanies this Agreement and Disclosure and is incorporated herein by this reference.

For all dividend earning accounts except Term Share Certificate Accounts, dividends will be compounded monthly and will be credited monthly. Dividends on Term Share Certificate Accounts are compounded and will be credited as requested by me. For all account types except Term Share Certificate Accounts, the dividend period is monthly; for example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date of such dividend period is January 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for this example it is January 31.

If I close any of my dividend earning accounts before dividends are credited, I will not receive the accrued dividends.

Balance Computation Method: For Premium Checking, Money Market, Savings and Term Share Certificate Accounts, dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. For Membership Savings, Personal Savings, Holiday Club Savings and IRA Savings Accounts dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Dividends will begin to accrue on the business day I deposit non-cash items (e.g. checks) to my account.

II. TERMS AND CONDITIONS

TERMS AND CONDITIONS APPLICABLE TO ALL ACCOUNTS:

  1. I must pay a non-refundable Membership Fee to become a member of E-Central Credit Union. I must also deposit a minimum of $25.00 (five (5) regular shares) into a Membership Savings Account and remain a member in good standing to maintain any account. The par value of a regular share in this Credit Union is $5.00. If I reduce my Membership Savings Account balance below the par value of five (5) shares, I may be terminated from membership at the end of a dividend period.
  2. If I reduce my total balance in shares and/or certificate accounts below twenty-five dollars ($25) and have no monetary transactions in my account (excluding crediting of dividends) to my account for a three (3) month period, my account may be terminated.
  3. If I request a closure of my account within twelve (12) months of opening it, my account will be subject to a Closing Fee.
  4. All accounts (except checking accounts) are not transferable except as defined in 12 CFR, Part 204. For all accounts except checking accounts, during any statement period, I may not make more than six (6) withdrawals or transfers to another credit union account of mine or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. No more than three (3) of the six (6) transfers may be made by check, draft, debit card, if applicable, or similar order to a third party. If I exceed the transfer limitations set forth above in any statement period, my account will be subject to closure by you.
  5. Your delay in enforcing any of the terms and conditions of this Agreement and Disclosure shall not prohibit you from enforcing such terms and conditions at a later date.
  6. You reserve the right upon thirty (30) days written notice to change any provision of or establish new provisions to this Agreement and Disclosure.
  7. You may endorse and/or collect items deposited to my account without my endorsement, but may require my personal endorsement prior to accepting an item for deposit. If I deposit items which bear the endorsement of more than one person or persons that are not known to you or that require endorsement of more than one payee, you may refuse the item or require all endorsers to be present or to have their endorsements guaranteed before you accept the item.
  8. I authorize you to accept items payable to any account owner for deposit to my account from any source without questioning the authority of the person making the deposit, and to give cash back to any authorized signer(s) or designated agent on any check payable to any one or more of the account owners, whether or not it is endorsed by me.
  9. I understand and agree that you may utilize automated means to process checks and other items written on or deposited to my account. Although you may manually review checks or other items drawn on my account, I understand and agree reasonable commercial standards do not require you to do so.
  10. You are not responsible for items lost while not in your possession.
  11. You will mail all statements and other notices only to the person whose signature appears first on the Membership and Account Application ("Account Application"). I shall exercise reasonable care and promptness examining my statements and must promptly notify you of any error or unauthorized payment including but not limited to an altered item or an unauthorized signature. If I fail to uphold these duties, I understand I am precluded from asserting the error or unauthorized payment against you: 1) suffer a loss on the item because of my failure; or 2) you pay on another item presented by the same wrongdoer if the payment was made before I properly notified you. Notification must be within sixty (60) days of the date of the statement. If I fail to uphold my duties but I can prove that you failed to exercise ordinary care in payment of the relevant items, then the above preclusion will not apply and the loss on the items will be allocated between you and me to the extent our respective actions contributed to the loss. If I have failed to examine my statement and report any unauthorized item sixty (60) days after my statement or the item has been made available to me, I cannot recover from you even if you failed to exercise ordinary care in paying the item.
  12. You or I may terminate an account(s) at any time. I understand, however, that your authority may not be changed or terminated except by written notice to you which will not affect prior transactions. Moreover, if you receive conflicting claims to funds in an account you hold, you may, at your discretion, restrict the account and deny access to all; close the account and send the funds to the owner or owners of the account, according to your records, at the statement mailing address; interplead all or any portion of the funds from an account to the court; or hold the funds, without liability to anyone, pending resolution of the claim to your satisfaction.
  13. You reserve the right to close any account(s) discovered to be deliberately manipulated to your detriment and/or your membership. "Manipulation" includes, but is not limited to, kiting and repeated patterns of transactions which have no apparent business reason other than to take advantage of Regulation "CC" hold periods and/or "interest float" to your detriment.
  14. You may recognize the signature of anyone who signed an Account Application as authorized to transact business on that account. Any payment made on my account by you in good faith and in reliance on the terms and conditions of any Term Share Certificate Account Agreement and Disclosure and/or the Account Application shall be valid and discharge you from liability. Without limitation to the foregoing, you may honor checks drawn against my account by authorized signers, even if the checks are made payable to them, to cash or for deposit to their personal accounts. You have no duty to investigate or question withdrawals or the application of funds.
  15. You reserve the right to require me to give not less than seven (7) and up to sixty (60) days written notice of my intention to withdraw funds from any account except checking accounts.
  16. I understand and agree that Individual, Joint, Trust (Totten) and Pay-on-Death accounts may be subject to Multiple Party Accounts Law, Division 5 of the California Probate Code, as now in effect or hereafter amended.
  17. Ownership for the primary account and all sub-accounts (except IRA Accounts) and all Term Share Certificate Accounts shall be established and determined by the most recent Account Application or other document(s) evidencing such account(s). A different form of ownership may be established by executing a new Membership and Account Application ("Account Application") (a new account number may be assigned). The word "owner(s)" means the owner of the funds in the case of an individual account and it means the joint owners (both as an individual and as a group) in the case of a joint or other account with multiple parties.
  18. I agree to notify you promptly of any change of address. I may notify you in person at your office or by sending a written and signed notice to E-Central Credit Union, 990 S. Fair Oaks Avenue, Pasadena, CA 91105.
  19. I am required to keep you informed of my current address. Items returned to us because of an incorrect address will be subject to a Returned Mail Fee. In the event that I fail to do this, a charge may be made to my account for the actual cost of necessary locator service paid to a person or concern normally engaged in providing such service and incurred in determining my address.
  20. All non-cash payments shall be credited subject to final payment on the day of deposit. My right to withdraw the funds represented by certain checks, savings or other items I deposit may be delayed for several days. I will be notified if my right to withdraw will be delayed. I will refer to the Credit Union's Disclosure of Funds Availability Policy for further details.
  21. All accounts are subject to your current Schedule of Fees and Charges which accompanies this Agreement and Disclosure and is incorporated herein by this reference. You shall debit such charges against any account I own (including accounts on which I am a joint owner) except my IRA Accounts. If there are insufficient funds available, the charges are payable on demand and, for checking accounts, will be treated as an overdraft.
  22. I agree that you will not be responsible for any damages I incur in the event I deposit an item with you which is subsequently returned unpaid by the paying bank and that return is "late" due to markings on the back of the check caused by me or a prior endorser.
  23. If a check or other item which you cash for me or which I deposit to my account is returned to you as unpaid for any reason, you may charge my account for the amount of the check or other item as well as a Returned Deposit Fee. This may include, among other circumstances, checks which are paid originally and later are returned to you accompanied by documentation indicating that the endorsement is forged or unauthorized or that the item has been altered in any way. You may charge my account for the amount without questioning the truth of such documentation. You may also charge back any amount of accrued or paid dividends related to the returned check. You may re-present a returned check for payment by the financial institution upon which it is drawn if there were insufficient funds to initially pay the item, but you are not required to do so. If you choose to re-present the check, you may do so without telling me the check was not paid or that you are presenting it again. You may charge a fee for each deposited or cashed check charged back to my account. You may, at your option, notify me, by telephone or in writing, if a check has been returned unpaid and the fee charged.
  24. Although you are not obligated to, you may pay or accept checks and other items bearing restrictions or notations (e.g., "Void after 6 months," "Void over $50.00," "Payment in Full," and the like), whether on the front or back, in any form or format. If I cash or deposit an item or write a check with such notation, I agree that it applies only between me and the payee or maker. The notation will have no effect on you, and I agree to accept responsibility for payment of the item. I agree to indemnify and hold you harmless from any claim or alleged loss of any maker or payee involving such notations, whether I am the maker or payee or the funds are otherwise deposited into an account in which I have an interest.
  25. California law states that inactive account balances must be turned over ("escheat") to the state after a period of three (3) years if I have not:
    1. Increased or decreased the amount of any of my account(s) with you or presented an appropriate record for crediting of dividends or cashed a dividend check from any of my accounts with you (if the account statements are sent to the same address); or
    2. Corresponded in writing or electronically with you concerning any of my accounts with you; or
    3. Otherwise indicated an interest in any of my accounts with you as evidenced by a memorandum on file with you.
    You may charge a fee for mailing an escheat notice and/or a service charge for money orders escheated to the state. To recover funds turned over to the state, I must file a claim with the state.
  26. You may but are not obligated to transfer funds from my Share Accounts on my written or oral request (except IRA Accounts). I understand and agree that no transfer will be made unless there are sufficient available clear funds on deposit at the time of transfer. I agree that any such transfer(s) from my Savings Account shall be in the exact amount authorized and will be processed only on your "business days." If a transfer is to occur on a day other than a business day, such transfer will occur on the next business day. Moreover, if funds are not available for the transfer on the day authorized, the transfer will occur when sufficient clear funds become available.
  27. Federal law requires you to report certain domestic currency transactions and foreign transactions. This reporting applies to all member accounts at the Credit Union.
  28. You agree to retain and furnish to me, if requested, copies of certain records pertaining to my account and that these records will be available to me for the time frame required by law. I agree to pay applicable fees for these copies.
  29. In the event that a cashier's, teller's, or certified check is lost or stolen, I must execute and deliver to you a written Declaration of Loss and Claim For Reimbursement and/or affidavit in a form acceptable to you and in time for you to have a reasonable time to act thereon. I further understand and agree that the Declaration of Loss and Claim for Reimbursement is not enforceable until the later of (i) the time the Declaration of Loss and Claim For Reimbursement is properly delivered to you, or (ii) the 90th day following the date of the cashier's or teller's check, or the 90th day following the date of the acceptance of a certified check. I agree to indemnify you for any loss or claim occasioned by your attempting to, or stopping payment on such check and will pay the applicable fees.
  30. I understand and agree that you must comply if you are served with any notice of garnishment or of attachment, tax levy, injunction, restraining order, subpoena or other legal process relating to my account that you reasonably believe is valid. You may charge a Lien or Levy Fee, and you may assess this fee against any account I maintain with you, including the account that is the subject of the legal process.
  31. I authorize you to gather whatever credit, checking account and employment information you consider appropriate from time to time. I understand that this will assist you, for example, in determining my initial and ongoing eligibility for my account and/or in connection with making future credit opportunities available to me. I authorize you to give information concerning your experiences with me to others.
  32. You are not responsible for any loss or damage which results from my negligence, including without limitation, my failure to adequately safeguard my blank checks or other personal information or means of access to my account.
  33. Federal law requires that you obtain and have certified by me a Taxpayer Identification Number (TIN) on all accounts. You will not open an account without this identification number. (Refer to the "Instructions for Reporting Taxpayer Identification Number" if you have any question regarding the Certification).
  34. Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.
  35. In the event that a negative balance is created in my deposit account (whether due to ATM activity, non-sufficient funds activity, Credit Union imposed fees and charges, or otherwise) or I have other outstanding financial obligations of any kind owed to you, I understand and agree that you may transfer funds to such account from any other deposit account (excluding IRA accounts), including account(s) upon which I am a joint owner, in an amount equal to the negative account balance or the outstanding financial obligation.
  36. An action or proceeding by me to enforce an obligation, duty or right arising under this Agreement and Disclosure or by law with respect to my account must be commenced within one year after the cause of action occurs.
  37. I agree to indemnify, defend and hold you and your employees harmless from and against every claim, demand, action, cost, loss, liability and expense (not including attorney's fees) which you incur by acting in accordance with this Agreement and Disclosure or as a result of my failure to abide by its terms.
  38. My account will be governed by California law, to the extent that California law is not inconsistent with controlling federal law. However, California's choice of law rules shall not be applied if that would result in the application of non- California law.

TERMS AND CONDITIONS APPLICABLE TO ALL INDIVIDUAL AND JOINT ACCOUNTS:

  1. If there is more than one owner, all agree with each other and with you that all sums now paid in or hereafter paid in by any one or all account owner(s) including all dividends thereon, if any, are and shall be owned by all account owner(s) jointly and equally regardless of their net contributions with a right of survivorship and shall be subject to withdrawal or receipt by any of the account owner(s) or the survivor(s) of any of the account owner(s). Any such payment shall be valid and shall discharge you from any liability.
  2. You are not obligated to inquire as to the source of funds received for deposit to a joint account or to inquire as to the proposed use of any sums withdrawn from the account for the purpose of establishing net contributions.
  3. No transfer of voting rights or other membership privileges is permitted by virtue of a transfer of funds.
  4. Being a joint owner of an account does not constitute credit union membership for the joint owner. Joint owners may be non-members.
  5. Except as set forth herein or in the applicable loan agreement(s), I may pledge any or all of the funds on deposit in an account as security for any loan(s) subject to then current loan policies. Further, a pledge of funds by any one of us shall be binding on all of us. I may not withdraw funds that are pledged as security on loan(s) without the written approval of a loan officer, except to the extent that such funds exceed my total primary and contingent liability to you. I may not withdraw any funds below the amount of my primary or contingent liability to you if I am delinquent as a borrower, or if borrowers for whom I am co-maker, endorser, or guarantor are delinquent, without the written approval of a loan officer.
  6. A right of survivorship arising from the express terms of a joint account cannot be changed by will.

TERMS AND CONDITIONS APPLICABLE TO ALL PAY-ON-DEATH (P.O.D.) DESIGNATIONS:

  1. If I have made a Pay-On-Death (P.O.D.) designation on my Account Application, this designation will apply to all my Credit Union share accounts with the exception of IRA Accounts. If I wish to change beneficiaries I must complete a new Account Application Designation of Beneficiary. All sums in such accounts are payable on request to me during my lifetime and upon my death to my designated P.O.D. payee(s) or if the account is jointly owned, to one or more account owner(s) during their lives and on the death of all of them to one or more payees then surviving in equal and individual shares. If a P.O.D. payee dies before all of the account owner(s), then upon the death of all of the owner(s), all sums are divided equally among the surviving P.O.D. payees.
  2. A Pay-On-Death designation cannot be changed by will.

TERMS AND CONDITIONS APPLICABLE TO PASSBOOK TRUST ACCOUNTS (TOTTEN TRUST):

  1. The trustee(s) declare(s) that the account is, and any and all sums credited to such account are and shall be, held by me, as joint tenants and equally regardless of our net contributions with right of survivorship if there is more than one trustee in trust for the Beneficiary(ies) named on the Account Application, reserving to me the right: (1) to have dividends declared on the account paid to me; and (2) to revoke such trust in whole or in part, at any time by executing and delivering to you a request for withdrawal or pledge of funds of the whole or a part of the account, and such trust shall be revoked as to the whole or part to which such request relates.
  2. In the event of my death or, if the account is held by more than one person, upon the death of my survivor owner(s), then and only then, you shall pay such account funds to the Beneficiary if then living (if more than one Beneficiary is designated then equally to those Beneficiaries living at the later of the date of my death or the death of my survivor owners), but if no Beneficiary is living at my death or the death of my survivor owner(s), you shall pay such account funds to my estate or the estate of my survivor owner(s). There is no right of survivorship between Beneficiaries.
  3. I may not pledge any or all of the funds on deposit in the account as collateral security for any loan(s).
  4. A right of survivorship or a Beneficiary designation in such a passbook trust account cannot be changed by will.

TERMS AND CONDITIONS APPLICABLE TO LIVING TRUST ACCOUNTS:

  1. The trustee(s) in completing the "Living Trust Account Signature Card," are opening a trust account in the name of the Trust as designated in the Living Trust Application and Agreement.
  2. I may be required to provide you with a notarized trust certification confirming my power as a trustee prior to opening the account.
  3. I acknowledge that the Account is governed by the applicable terms and conditions set forth in this Agreement and Disclosure and by the terms and conditions set forth in my Living Trust Account Signature Card and in the Living Trust Application and Agreement.
  4. Living Trust Accounts are not subject to Multiple Party Accounts Law.

TERMS AND CONDITIONS APPLICABLE TO ALL CUSTODIAL ACCOUNTS:

  1. The transferor/custodian is opening an account as custodian for the minor named on the Transfer to Minor's Signature Card under the Uniform Transfers to Minors Act. The transfer of money to the minor named on the Transfer to Minor's Signature Card, which transfer shall be deemed to include all dividends and any future deposits or other additions thereto, is irrevocable and is made in accordance with and to include all provisions of the said statute of the State of California now in effect or hereinafter amended.
  2. I acknowledge that by signing the Transfer to Minor's Signature Card, I have received the funds deposited to the account as custodian for the minor named herein under the Uniform Transfers to Minors Act.
  3. I may not pledge any or all of the funds on deposit in the account as security for any loan(s).
  4. The successor custodian named on the Transfer to Minor's Signature Card shall serve if I should be unable to act as custodian because I resign, die, or become legally incapacitated.
  5. Custodial accounts are not subject to the Multiple Party Accounts Law.

TERMS AND CONDITIONS APPLICABLE TO ALL FIDUCIARY ACCOUNTS:

  1. I am duly appointed and acting in the capacity of Executor/Executrix, Administrator/Administratrix, Guardian or Conservator. By the authority vested in me, I am acting individually or jointly, authorized and empowered to transact business of any character in connection with this account. My authority shall continue in force until written notice to the contrary is received by you.
  2. I may pledge any or all funds on deposit in the account as security for any loan(s) subject to then current loan policies. Further, a pledge of funds by any one of us shall be binding on all of us.
  3. If the account is blocked, I understand that I shall file with the court a written receipt including an agreement with you that the funds in the account, including any dividends, shall not be withdrawn or pledged except upon court order.
  4. Fiduciary accounts are not subject to the Multiple Party Accounts Law.

TERMS AND CONDITIONS APPLICABLE TO MEMBERSHIP SAVINGS ACCOUNTS:

  1. The Minimum Deposit required to open the Membership Savings Account is disclosed on the current Dividend Rate Sheet.
  2. This Account will be subject to a Below Minimum Balance fee if my daily balance falls below twenty-five dollars ($25).
  3. This Account will be subject to a No Activity fee if my daily balance falls below five hundred dollars ($500) and there is no activity (except crediting of dividends) for one year.
  4. The Minimum Daily Balance required in my Account to obtain the disclosed Annual Percentage Yield (APY) and to avoid closure is disclosed on the current Dividend Rate Sheet.
  5. This Account may be designated as an overdraft source for my Checking Account. Overdraft transfers exceeding three (3) per month will be subject to an Automatic Overdraft Transfer Fee.
  6. Withdrawals in excess of six (6) per month are subject to an Excessive Withdrawal Fee.
  7. Each ATM withdrawal from a Membership Savings Account in excess of five (5) per calendar month is subject to an Excessive Withdrawal Fee.
  8. A Fair Share Fee will be assessed if I have less than $250 combined savings and loan balance based on the last business day of the month. It will be waived if I have an active checking account, or if I am under 18 years old, or if I am a new member within a 1 year period.

TERMS AND CONDITIONS APPLICABLE TO PERSONAL SAVINGS (U-NAMEIT) ACCOUNTS:

  1. The Minimum Deposit required to open the Personal Savings Account is disclosed on the current Dividend Rate sheet.
  2. The Minimum Daily Balance required in my Account to obtain the disclosed Annual Percentage Yield (APY) and to avoid closure is disclosed on the current Dividend Rate Sheet.
  3. I am allowed one (1) withdrawal per calendar quarter. Withdrawals in excess of one (1) per calendar quarter are subject to the Personal Savings Account Excessive Withdrawal Fee.

TERMS AND CONDITIONS APPLICABLE TO IRA SAVINGS ACCOUNTS:

  1. The Minimum Deposit required to open the IRA Share Account is disclosed on the current Dividend Rate sheet.
  2. The Minimum Daily Balance required in my Account to obtain the disclosed Annual Percentage Yield (APY) and to avoid closure is disclosed on the current Dividend Rate sheet.
  3. No transaction limitations apply to my IRA Share Account; however, certain federal and state penalties may apply if IRA funds (including dividends earned on IRA funds) are withdrawn early and the maximum yearly contribution I may make to an IRA account is limited under the Internal Revenue Code.

TERMS AND CONDITIONS APPLICABLE TO HOLIDAY CLUB SAVINGS ACCOUNTS:

  1. The Minimum Deposit required to open the Account and the Minimum Daily Balance required to earn the Annual Percentage Yield (APY) are disclosed on the current Dividend Rate sheet.
  2. A minimum "Periodic Payment" of $25.00 must be made to my Holiday Club Savings Account each month; otherwise, my Account will be closed and the balance will be transferred to my Membership Savings Account.
  3. The available Account balance will be transferred to my Membership Savings Account on or before November 1 of each year. The Account is subject to an Early Withdrawal of Holiday Club Account Fee for each withdrawal made prior to the scheduled transfer.

TERMS AND CONDITIONS APPLICABLE TO CHECKING ACCOUNTS:

  1. PREMIUM CHECKING ACCOUNT: The Minimum Deposit required to open a Premium Checking Account and the Minimum Daily Balance required to earn the Annual Percentage Rate (APY) for the Account are disclosed on the Current Dividend Rate Sheet. If the daily balance falls below the required Minimum Daily Balance, no dividends will be paid and the account will be subject to a below Minimum Balance Fee.
  2. CLASSIC CHECKING ACCOUNT: There is no minimum deposit required to open a Classic Checking Account and no dividends are paid. The Account is subject to a Monthly Service Fee.
  3. E-BUILDER CHECKING ACCOUNT: A $50 minimum deposit is required to open this account. An amount of $200.00 is required to be in the Membership Savings Account. This amount is pledged to the E-Builder Checking Account for a period of 12 months. At the end of 12 months I may apply for any other Checking Account. The E-Builder Checking Account does not pay dividends and is subject to a monthly service charge as disclosed on the Schedule of Fees and Charges.
  4. E-FREE CHECKING ACCOUNT: There is no minimum deposit required to open an E-Free Checking Account and no dividends are paid. (The account will be subject to an Automatic Overdraft Transfer Fee for each overdraft transfer from Membership Savings Account as disclosed in the Schedule of Fees and Charges).
  5. Each ATM withdrawal from a Checking Account in excess of five (5) per calendar month is subject to an ATM Excessive Withdrawal Fee.
  6. You may, at your discretion, but are not obligated to nor shall you be liable for refusal to pay funds from this account:
    1. When such payment would draw the account below the minimum balance for the account as established from time to time by you ("overdrafts").
    2. If drawn by means not authorized in advance by you.
    3. Against checks presented over six (6) months past their dates.
  7. You may pay and charge to my Account, checks drawn by and payable to any person, organization, association or corporation whom I have authorized by providing sample MICR encoded information identifying my Account, provided there are sufficient funds in my Account to pay such checks. I agree that your rights in respect to such checks shall be the same as if it were a check drawn and signed by me personally. This authority shall remain in effect until revoked by me in writing (to you and to the agency to whom the sample MICR writing was provided) and you have had a reasonable opportunity to act on it. I agree that you shall be fully protected in honoring such checks. I further agree that if any such check is dishonored, whether with or without cause, and whether intentional or inadvertent, you shall be under no liability whatsoever, even though such dishonor results in the forfeit of insurance, loss or damage to me of any kind.
  8. If you have made good faith payment to a holder, you may charge my Account according to:
    1. The original tenor of my check; or
    2. The tenor of my completed check unless you have notice that any such completion is improper.
  9. I, or any other person authorized to draw on the Account, may order stop payment of any check payable against my Account, provided the request is timely and affords you a reasonable opportunity to act upon it under your rules. The stop payment must include the applicable Account number, check number, exact amount, check date and name of payee. You will not be liable for paying a check over a stop payment request if the request is incomplete or incorrect. I agree to indemnify, defend and hold you harmless for all claims, actions and damages related to or arising from your action in stopping payment of any check pursuant to my request. A Stop Payment Fee will be assessed for each stop payment. If I give a stop payment order orally, the order shall be valid for only fourteen (14) days thereafter unless confirmed in writing. Written orders shall be valid no longer than six (6) months, but may be renewed for additional six (6) month periods by written notice given during the time that the stop payment order was effective. I have the burden of establishing the fact and amount of loss resulting from payment contrary to a binding stop payment order. I may not stop payment on completed electronic Point-Of-Sale transactions, cashier's checks, certified checks, checks issued or guaranteed by you.
  10. Death, dissolution or incompetence of me (or any of us) shall not revoke your authority to accept, pay or collect a check or to account for proceeds of its collection until you know of the fact of death or adjudication of incompetence and have the reasonable opportunity to act on it. Even with knowledge, you may for ten (10) days after the date of death, dissolution or incapacity, pay or guarantee checks drawn on or prior to that date unless ordered in writing to stop payment by a person claiming an interest in the Account under rules established by you. We shall notify you if any of us die or become incapacitated.
  11. If you have paid a check under circumstances giving a basis for objection by me, you shall be subrogated to the rights of: a. Any holder in due course on the check against the drawer or maker; b. The payee or any other holder of the check against the drawer or maker either on the item or under the transaction out of which the item arose; and c. The drawer or maker against the payee or any other holder of the check with respect to the transaction out of which the check arose.
  12. You may without liability accept, pay, guarantee or charge checks to the Account in any order convenient to you.
  13. In the event of wrongful dishonor which occurs by mistake, your liability shall be limited to actual damages I prove. In the event of a dishonor of any check, share draft or other debit on my Account, your determination of whether sufficient funds exist in my Account may be made at any time between the time the item is received and the time it is returned. If you should choose to make a subsequent account balance check, you must use the last figure in deciding whether to dishonor the check, share draft or other debit.
  14. You are neither given notice or otherwise affected by a restrictive endorsement of any person or entity except your immediate transferor.
  15. I agree that, in the event I draw a check on my Account with you, I will hold you harmless and indemnify you from any liability I incur due to a delay or misrouting of the check where the delay or misrouting is caused by markings placed on the check by me or a prior endorser that obscure any depository endorsement placed by you or your agent.
  16. I may authorize all checks from my Checking Account(s) to be cleared pursuant to the Overdraft Protection option that I have selected on my Account Application. I agree that overdrafts, if paid in excess of funds in my Membership Savings Account, are payable on demand. If overdrafts are to be covered by a transfer of funds from my Membership Savings Account(s), such transfer(s) will generally be made only if there are sufficient funds available at the time of transfer. Overdraft transfers from Membership Savings exceeding three (3) per month are subject to an Automatic Overdraft Transfer Fee. Overdrafts, if paid in excess of funds available in any Membership Savings Account or Personal Line of Credit (PLOC) Loan Account, are payable on demand. Any items returned unpaid because of insufficient clear funds or paid without sufficient clear funds in my Checking Account and overdraft source(s) will be subject to a Non- Sufficient Funds Check (NSF) fee.
  17. You may recognize the signature of anyone who signed the Account Application as authorized to transact any business on the Account including, but not limited to, the causing or making of overdrafts (for which all of us shall be liable) and endorsement of checks payable to any signer of the applicable Account. Each Account owner is jointly and severally responsible for paying any overdrafts created by us whether or not we participate in the transaction or benefit from its proceeds.
  18. No funds in this Account may be pledged by any or all of said owner(s) as security for any loan(s).
  19. If the Account Application is signed by more than one person, we hereby appoint each other as agents and attorneys-in- fact to overdraft any of our Savings Accounts (including accounts on which we are joint owners, except IRA accounts).
  20. I will notify you immediately if my checks are lost or stolen. I agree that I will be responsible for losses caused by a delay in my notification to you.
  21. As a convenience to me, you will submit my initial order and reorders for personalized checks to the printer named on the face of the order. If the printer accepts the initial order and reorders, the printer will mail the checks directly to me. I authorize you to charge my Checking Account for the cost of delivered checks ordered, plus applicable sales tax and shipping costs. I am responsible for verifying the accuracy of all information shown on my checks whether I order them through you or elsewhere.
  22. This is a truncated Checking Account. Checks are provided with carbonless copies and are not returned with statements. Checks are microfilmed on both sides and stored for seven years from date of posting. I may request and you will provide me with a photocopy of a requested item within a reasonable time. You will not charge me for the first two copies of checks I request on any statement. Additional copies will be subject to an assessment of a fee. If I have not ordered my Credit Union checks through your approved check vendors, I understand that you are not responsible for the quality of any check copy that I request from you. In addition, clearing of exception items printed by such vendors are subject to a Special Check Handling Fee.
  23. You may charge against my Account a postdated check even though payment is made before the "Date" of the check. However, if I notify you within a reasonable time to permit you to act and identify the check with reasonable certainty, you cannot pay the check until the "Date" of the check. Notice may be written or oral. If oral, the notice shall be valid for fourteen (14) days. If written, the notice shall be valid for up to six (6) months, and can be renewed within six (6) months for another successive six (6) month period. A fee may be assessed for this service.
  24. All checks written on my Account must be drawn in U.S. dollars.

TERMS AND CONDITIONS OF COURTESY PAY:

The word "overdraft" includes a negative balance in my Checking Account that may occur for various reasons, including, but not limited to: (1) the payment of checks, electronic transfers, telephone-initiated transfers, preauthorized payments under your Bill Pay Service, or other withdrawal requests authorized by me including, but not limited to, ATM transactions, VISA Debit Card transactions, Point of Sale transactions, ACH transactions, and other preauthorized transfers, for which funds are insufficient; (2) the return (unpaid) of items deposited by me; (3) the imposition of service charges by you; or (4) the deposit of items which are treated as not yet "available" according to your Funds Availability Agreement.

Pursuant to your commitment to provide valued service and benefits, you may pay my overdrafts that would cause my eligible Checking Account(s) to have a negative (or further negative) balance, pursuant to the terms and conditions of this Courtesy Pay Agreement up to the amount of your Courtesy Pay Limit, which is determined by you in your sole and absolute discretion.

The Courtesy Pay Service is not a credit product and requires no application or credit approval process. The Service will only be applied to my Checking Account(s) if:

  • I have been a member for at least 30 days;
  • I maintain my membership in good standing;
  • I have a Checking Account with you that is more than 30 days;
  • I may not be more than thirty-one (31) days delinquent or be in default in any other respect on any loan or other obligation to you; and
  • There must not be any legal or administrative orders or levies against my Checking Account.

ANY COURTESY PAY PAYMENT WILL BE MADE ON A CASE-BY-CASE BASIS, IN YOUR SOLE AND ABSOLUTE DISCRETION.

I will be notified by mail of any non-sufficient funds checks, items, or other transactions that have been paid or returned; however, I understand that you have no obligation to notify me before you pay or return any check, item, or other transaction.

You may refuse to pay any overdrafts without first notifying me even though my account is in good standing and even if you have paid previous overdrafts. The total of the overdraft (negative) balance in my Checking Account(s), including any and all fees and charges, is due and payable upon demand, and I am required to immediately, within 15 days, to deposit with you sufficient funds to cover the overdraft paid by you and pay the related fees. I understand that items presented for payment on the same day will be paid in sequential check number order or, if no check number, then by date of presentment for payment. This means that items may not be processed in the order in which they occurred. I understand that the order in which items are processed can affect the total amount of fees that may be assessed against my Checking Account(s).

A Courtesy Pay Fee will be charged to my Checking Account in accordance with your Schedule of Fees and Charges for each overdraft that is cleared on my Checking Account(s) through the Courtesy Pay Service. This means that more than one Courtesy Pay Fee may be assessed against my Checking Account(s) per day depending upon the number of overdrafts cleared through the Courtesy Pay Service. I understand that my Courtesy Pay Limit shall be reduced by the amount of each overdraft paid by you through the Courtesy Pay Service and the amount of the related Courtesy Pay Fee imposed until such amounts are repaid by me as set forth herein at which time you may replenish my Courtesy Pay Limit by the amount of the repayment. If you choose not to pay the overdrawn check or other item/transaction under the Courtesy Pay Service, I am subject to an NSF Fee as set forth in the Schedule of Fees and Charges for each such item.

I also agree that you have the right to transfer available funds from my other accounts I may have with you to cover the overdraft and pay the related fees. I understand and agree that you may transfer funds to my Checking Account(s) from any of my other account(s) with you, including account(s) upon which I am a joint-owner, in an amount equal to the overdraft which you may pay according to the terms and conditions of this Courtesy Pay Agreement and to pay the related fees. In addition to any other rights that you may have, I agree that any deposits or future deposits in or other credits to any account in which I may now or in the future may have an interest are subject to your right of off-set for any liabilities, obligations, or other amounts owed to you by me (e.g., overdrafts and any related fees and charges) and such is applicable irrespective of any contribution to the account or source of funds in the account. Each person who causes an overdraft, which is paid by you, is a maker and agrees to be individually and jointly obligated to repay the unpaid negative balance in accordance with the terms and conditions of this Courtesy Pay Agreement. You reserve the right to limit Courtesy Pay Service to one (1) account per member without notice of reason or cause.

I will be in default under the terms of this Courtesy Pay Agreement if I fail to live up to any of the terms and conditions of this Courtesy Pay Agreement or I am in default on any loan obligation with you and/or a negative balance exists in any other deposit account with you on which I am an owner. If I am in default, in addition to any other rights you may have, you may temporarily suspend overdraft privileges or terminate the Courtesy Pay Service or close my Checking Account(s) and demand immediate payment of the entire unpaid negative balance. I also agree to pay any collection costs, attorneys' fees, and court costs which you may incur as a result of my default.

You may terminate or suspend the Courtesy Pay Service at any time without prior notice. In no event shall any termination relieve me of my obligation to repay such sums already overdrafted, overdraft fees, collection costs, and attorneys' fees, if any. You can delay enforcing any of your rights under this Agreement without losing them.

If I prefer not to have Courtesy Pay Service, I will contact you at (626) 799-6000 Monday through Friday, 7:30 a.m. to 6:00 p.m. and you will remove the Courtesy Pay Service from my Checking Account(s).

TERMS AND CONDITIONS APPLICABLE TO MONEY MARKET SAVINGS ACCOUNTS:

  1. The Minimum Deposit required to open this Account is disclosed on the current Dividend Rate Sheet.
  2. I must maintain a Minimum Daily Balance as disclosed on the current Dividend Rate sheet in my Account to obtain the disclosed Annual Percentage Yield.
  3. I may obtain three (3) Money Market Drafts from my Account per month. Drafts in excess of three (3) per month are subject to a Money Market Checks Fee. Also, drafts issued from this Account must be for a minimum of two-hundred-fifty dollars ($250). Drafts for less than the minimum will be subject to a Money Market Check Fee.

TERMS AND CONDITIONS APPLICABLE TO TERM SHARE AND IRA CERTIFICATE ACCOUNTS (INCLUDING IRAs):

  1. The initial Dividend Rate, and Annual Percentage Yield ("APY") for specific terms are as stated on the Dividend Rate Sheet.
  2. All Term Share and IRA Certificate Accounts are fixed rate accounts. I will be paid this rate and APY until maturity.
  3. The APY is based on an assumption that dividends will remain on deposit until maturity. If I make a withdrawal from my Term Share Certificate Account, my earnings will be reduced.
  4. My Term Share Certificate will mature on the date shown on my Certificate.
  5. I will be given at least 20 days' notice of maturity. If I do not notify you within a grace period of 7 days after maturity, the certificate will automatically renew at a then current dividend rate.
  6. You may impose a penalty if I withdraw principal from my Term Share Certificate Account before the maturity date. The penalty will be as follows: Where the term is one year or less, the loss of 90 days dividends on the amount withdrawn whether or not earned. Where the term is more than one year, the loss of 180 days dividends on the amount withdrawn whether or not earned. Penalties may reduce principal balance. In addition, if a withdrawal reduces my balance below the Minimum Balance requirement, my account will be closed and the remaining funds will be transferred to my Membership Savings Account or IRA Savings Account, as appropriate.
  7. I must maintain the Minimum Daily Balance in my Term Share Certificate Account each day to avoid closure. If during any day my account balance falls below the required Minimum, my Account will be subject to closure.
  8. I may make withdrawals of dividends at any time. I may not make deposits into or withdrawals of principal from my Term Share Certificate Account prior to maturity except during the Grace Period described above.
  9. For IRA Term Share Certificate Accounts, federal and state penalties may apply to withdrawals, at any time, of dividends or principal as stated in the applicable IRA Agreement and Disclosure.

TERMS AND CONDITIONS APPLICABLE TO INDIVIDUAL RETIREMENT ACCOUNTS:

  1. IRA Accounts are subject to the applicable terms and conditions set forth in this Agreement and Disclosure as well as the terms and conditions set forth in my IRA Agreement and Disclosure, which will be provided tome in accordance with applicable law.
  2. I may not pledge any of the funds on deposit in the account as security for any loan(s).
  3. Federal and state penalties that may apply to amounts withdrawn from IRA Account are set forth in applicable federal and state law and regulations which are incorporated by this reference.

In no event does the above policy affect your right to accept or reject an item for deposit or to require written notice of an intended withdrawal.

III. Instructions for IRS Form W-9

Name. If you are an individual, you must generally enter the name shown on your social security card. However, if you have changed your last name, for instance, due to marriage without informing the Social Security Administration of the name change, enter your first name, the last name shown on your social security card, and your new last name.

If the account is in joint names, list first and then circle the name of the person or entity whose number you enter in Part I of the form.

Sole proprietor. Enter your individual name as shown on your social security card on the "Name" line. You may enter your business, trade, or "doing business as (DBA)" name on the "Business name" line.

Limited liability company (LLC). If you are a single-member LLC (including a foreign LLC with a domestic owner) that is disregarded as an entity separate from its owner under Treasury regulations section 301.7701-3, enter the owner's name on the "Name" line. Enter the LLC's name on the "Business Name" line.

Caution: A disregarded domestic entity that has a foreign owner must use the appropriate Form W-8.

Other entities. Enter your business name as shown on required Federal tax documents on the "Name" line. This name should mach the name shown on the charter or other legal document creating the entity. You may enter any business, trade, or DBA name on the "Business name" line.

Part One — Taxpayer Identification Number (TIN)

Enter your TIN in the appropriate box.

If you are a resident alien and you do not have and are not eligible to get an SSN, your TIN is your IRS individual taxpayer identification number (ITIN). Enter it in the social security number box. If you do not have a TIN, see "How to get a TIN" below.

If you are a sole proprietor and you have an EIN, you may enter either your SSN or EIN. However, the IRS prefers that you use your SSN.

If you are an LLC that is disregarded as an entity separate from its owner (see Limited liability company (LLC) above), and are owned by an individual, enter your SSN (or "pre-LLC" EIN, if desired). If the owner of a disregarded LLC is a corporation, partnership, etc., enter the owner's EIN.

Note: See the chart on this page for further clarification of name and TIN combinations

How to get a TIN. If you do not have a TIN, apply for one immediately. To apply for an SSN, get Form SS-5, Application for a Social Security Card, from your local Social Security Administration office. Get Form W-7, Application for IRS Individual Taxpayer Identification Number, to apply for an ITIN, or Form SS-4, Application for Employer Identification Number, to apply for an EIN. You can get Forms W-7 and SS-4 from the IRS by calling 1-800-TAX-FORM (1-800-829-3676) or from the IRS's Internet Web Site at www.irs.gov.

If you do not have a TIN, write "Applied For" in the space for the TIN, sign and date the form, and give it to the requester. For interest and dividend payments, and certain payments made with respect to readily tradable instruments, generally you will have 60 days to get a TIN and give it to the requester before you are subject to backup withholding on payments. The 60-day rule does not apply to other types of payments. You will be subject to backup withholding on all such payments until you provide your TIN to the requester.

Note: Writing "Applied For" means that you have already applied for a TIN or that you intend to apply for one soon.

Part Two — For U.S. Payees Exempt From Backup Withholding

Individuals (including sole proprietors) are not exempt from backup withholding. Corporations are exempt for backup withholding for certain payments, such as interest and dividends. For more information on exempt payees, see the separate Instructions for the Requester of Form W-9.

If you are exempt from backup withholding, you should still complete this form to avoid possible erroneous backup withholding. Enter your correct TIN in Part I, write "Exempt" in Part II, and sign and date the form.

If you are a nonresident alien or a foreign entity not subject to backup withholding, give the requester the appropriate completed Form W-8.

Part Three — Certification

To establish to the withholding agent that you are a U.S. person, or resident alien, sign Form W-9. You may be requested to sign by the withholding agent even if items 1, 3, and 5 below indicate otherwise.

For a joint account, only the person whose TIN is shown in Part I should sign (when required).

  1. Interest, dividend, and barter exchange accounts opened before 1984 and broker accounts considered active during 1983. You must give your correct TIN, but you do not have to sign the certification.
  2. Interest, dividend, and barter exchange accounts opened after 1983 and broker accounts considered inactive during 1983. You must sign the certification or backup withholding will apply. If you are subject to backup withholding and you are merely providing your correct TIN to the requester, you must cross out item 2 in the certification before signing the form.
  3. Real estate transactions. You must sign the certification. You may cross out item 2 of the certification.
  4. Other Payments. You must give your correct TIN, but you do not have to sign the certification unless you have been notified that you have previously given an incorrect TIN. "Other Payments" include payments made in the course of the requester's trade or business for rent, royalties, goods (other than bills for merchandise), medical and health care services (including payments to corporations), payments to a nonemployee for services, payments to certain fishing boat crew members and fishermen, and gross proceeds paid to attorneys (including payments to corporations).
  5. Mortgage interest paid by you, acquisition or abandonment of secured property, cancellation of debt, qualified state tuition program payments, IRA or MSA contributions or distributions, and pension distributions. You must give your correct TIN, but you do not have to sign the certification.

Privacy Act Notice

Section 6109 of the Internal Revenue Code requirees you to give your correct TIN to persons who must file information returns with the IRS to report interest, dividends, and certain other income paid to you, mortgage interest you paid, the acquisition or abandonment of secured property, cancellation of debt, or contributions you made to an IRA or MSA. The IRS uses the numbers for indentification purposes and to help verify the accuracy of your tax return. The IRS may also provide this information to the Department of Justice for civil and criminal litigation, and to cities, states, and the District of Columbia to carry out their tax laws.

You must providee your TIN whether or not you are required to file a tax return. Payers must generally withhold 31% of taxable interest, dividend, and certain other payments to a payee who does not give a TIN to a payer. Certain penalties may also apply.

What Name and Number to Give the Requester
For this type of account: Give Name and SSN of:
1. Individual The individual
2. Two or more individuals (joint account) The actual owner of the account, or, if combined funds, the first individual on the account 1
3. Custodian account of a minor (Uniform Gift to Minors Act) The minor 2
4. (a) The usual revocable savings trust (grantor is also trustee), or (b) So-called trust account that is not a legal or valid trust under state law The grantor-trustee 1
5. Sole proprietorship The owner 3
For this type of account: Give Name and EIN of:
6. Sole proprietorship The owner 3
7. A valid trust, estate, or pension trust Legal entity 4
8. Corporate The corporation
9. Association, club, religious, charitable, educational, or other tax-exempt organization The organization
10. Partnership The partnership
11. A broker or registered nominee The broker or nominee
12. Account with the Department of Agriculture in the name of a public entity (such as a state or local government, school district, or prison) that receives agricultural program payments The public entity
1 List first and circle the name of the person whose number you furnish. If only one person on a joint account has an SSN, that person's number must be furnished.

2 Circle the minor's name and furnish the minor's SSN.

3 You must show your individual name, but you may also enter your business or "DBA" name. You may use either your SSN or EIN (if you have one).

4 List first and circle the name of the legal trust, estate, or pension trust. (Do not furnish the TIN of the personal representative or trustee unless the legal identity itself is not designated on the account title.

Note: If no name is circled when more than one name is listed, the number will be considered to be that of the first name listed.



IV. FUNDS AVAILABILITY POLICY

(A) DISCLOSURE OF FUNDS AVAILABILITY FOR ALL CREDIT UNION ACCOUNTS

Your policy is to make funds from my cash and check deposits available to me on the first business day after the day you receive my deposit. Electronic direct deposits will be available on the day you receive the deposit. Once they are available, I can withdraw the funds in cash and you will use the funds to pay checks that I have written.

For determining the availability of my deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If I make a deposit before 5:00 p.m. on a business day that you are open, you will consider that day to be the day of my deposit. However, if I make a deposit after 5:00 p.m. on a day you are open, you will consider that the deposit was made on the next business day you are open.

SAME-DAY AVAILABILITY

Funds from electronic direct deposits to my account will be available on the day you receive the deposit.

NEXT-DAY AVAILABILITY

Funds from the following deposits are available on the first business day after the day of my deposit.

  1. U.S. Treasury checks that are payable to me;
  2. Wire transfers, and
  3. Checks drawn on you (unless any limitations related to branches in different states or check processing regions apply).

If I make the deposit in person to one of your employees, funds from the following deposits are also available on the first business day after the day of my deposit:

  1. Cash;
  2. State and local government checks that are payable to me;
  3. Cashier's, certified, and teller's checks that are payable to me; and
  4. Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to me.

If I do not make my deposit in person to one of your employees (for example, if I mail the deposit), funds from these deposits will be available on the second business day after the day of my deposit.

LONGER DELAYS MAY APPLY

In some cases, you will not make all of the funds that I deposit by check available to me on the first business day after my deposit. Depending on the type of check that I deposit, funds may not be available until the fifth business day after the day of my deposit. However, the first $100 of my deposits will be available on the first business day after the day of deposit.

If you are not going to make all funds from my deposit available on the first business day after my deposit, you will notify me at the time I make my deposit. You will also tell me when the funds will be available. If my deposit is not made directly to one of your employees (for example, at an ATM, or Night Drop), or if you decide to take this action after I have left the premises, you will mail me the notice by the day after you receive my deposit.

Deposits at Non-proprietary Automated Teller Machine (ATMs): Funds from any deposits (cash or checks) made at non- propietary ATMs you do not own or operate may not be available until the fifth business day after the day of my deposit. This rule does not apply at ATMs that you own or operate. All ATMs that you own or operate are identified as your machines.

If I will need the funds from a deposit right away, I should ask you when the funds will be available. In addition, funds I deposit by check may be delayed for a longer period under the following circumstances:

  • You believe the collectibility of a check I deposited is doubtful.
  • My deposit checks totaling more than $5,000 on any one day.
  • You re-deposit a check that has been returned unpaid.
  • I have overdrawn my Account six or more times in a six month period.
  • There is an emergency, such as failure of communication or computer equipment.

You will notify me if you delay my ability to withdraw funds for any of these reasons, and you will tell me when the funds will be available. They will generally be available no later than the eleventh business day after the day of my deposit.

SPECIAL RULES FOR NEW ACCOUNTS

If I am a new member, the following special rules will apply during the first thirty (30) days my account is open.

Funds from electronic direct deposits to my account will be available on the day you receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000.00 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state and local government checks will be available on the first business day after the day of my deposit if the deposit meets certain conditions. For example, the checks must be payable to me (and I may have use of a special deposit slip). The excess over $5,000.00 will be available on the ninth (9th) business day after the day of my deposit. If my deposit of these checks (other than U.S. Treasury checks) is not made in person to one of your employees, the first $5,000.00 will not be available until the second business day after the day of my deposit.

Funds from all other check deposits will be available on the 11th business day after the day of my deposit.

(B) SPECIAL NOTICE REGARDING ENDORSEMENT STANDARDS

The federal law dealing with funds availability requires the financial institution's endorsement area on the back of a check be kept clear or unobstructed. This rule is designed to prevent unnecessary delays in processing my deposits as well as to promote speedier returns of dishonored checks. Only the 1-1/2 inch space from the "trailing edge" (the left edge of the check when it is facing me) can be used by me for endorsements or any other markings.

You will not be responsible for any damages incurred in the event I deposit an item which is subsequently returned unpaid by the paying bank and that return is "late" due to markings on the check caused by me or a prior endorser on the back of the check.

In the event that I draw a check on my checking or loan account with you, I am responsible for any delay or misrouting of the check caused by markings placed on the check by me that obscure any depository endorsements placed by you or your agent and I agree to hold you harmless and indemnify you from any liability due to such delay or misrouting.

The End


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